Press Release

Release Date: December 2, 2013

For immediate release

The Federal Reserve on Monday announced that it has not objected to re-submitted capital plans from The Goldman Sachs Group, Inc. and JPMorgan Chase & Co. During the 2013 Comprehensive Capital Analysis and Review (CCAR), the Federal Reserve did not object to the capital plans from both institutions, but required them to submit new plans addressing weaknesses identified in their capital planning processes.

The CCAR is an annual review to ensure that large financial institutions have robust, forward-looking capital planning processes that account for their unique risks, and to help ensure that they have sufficient capital to continue operations throughout times of economic and financial stress. The Federal Reserve began the 2014 CCAR in November of this year and will release summary results in March 2014.